Chuks Udo Okonta
Of the N217.74 billion gross premium written by underwriters
in 2011, N29.09 billion was paid as commission Inspen has learnt.
A report obtained from the Nigerian Insurers Association (NIA),
stated that Continental Reinsurance Plc, made the largest pay-out of N2.38
billion; followed by AIICO Insurance Plc, N1.68 billion, Staco Insurance Plc
N1.60 billion; Leadway Assurance Limited N1.55 billion and NEM Insurance Plc
N1.35 billion.
The
Managing Director Leverage Insurance Brokers Limited, Lanre Laoshe, who his
firm benefited from the commission, in a recent report on the growth recorded
in the industry, said the Nigerian insurance industry has continued to grow
with the number of policyholders rising from 0.5 million in 2010 to 1.5 million
by the end of last year.
“The
Nigerian insurance industry is a dynamic and rapidly growing one. It is supervised
by the National Insurance Commission (NAICOM), which is poised to ensure that
the market grows to a level commensurate with contemporary economies. The
number of policyholders has increased from 500,000 in 2010 to 1,500,000 in
2012. During that period, the ratio of premium income to GDP increased from 0.5
per cent to 0.7 per cent,” he stated.
“In
spite of these, when compared with other economies on the continent, there is
still room for growth in the Nigerian insurance market,” he added.
No comments:
Post a Comment